HISTORICAL! 1947 Indian currency note used in Pakistan goes viral
After gaining independence on August 15, 1947, India and Pakistan shared a central bank, the Reserve Bank of India (RBI), until September 30, 1948. Pakistan initially used Indian currency, with notes bearing King George VI's image, before introducing its own with "Government of Pakistan" and "Hukumat-e Pakistan" inscriptions.
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FollowOn August 15, 1947, British rule ended in India, leading to the formation of Pakistan. The partition required both countries to handle the distribution of assets and liabilities, with currency management emerging as a significant issue for Pakistan.
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Following the partition, the Indian government temporarily permitted Pakistan to use its currency. For about a year after this arrangement, Pakistan continued to use Indian banknotes.
Recently, a five-rupee Indian note from the 1947-48 period has gone viral on the social media platform Reddit. This note was in circulation during the early days of the newly formed Pakistan after the partition of British India. Later Pakistan made changes with the inscription "Government of Pakistan" in English and "Hukumat-e Pakistan" in Urdu.
Indian rupees stamped with Government of Pakistan as a legal tender in the new state of Pakistan in 1947– during the RBI Governor C. D. Deshmukh's tenure.
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At that time, the Reserve Bank of India (RBI), led by C.D. Deshmukh, served as the central bank for both countries until September 30, 1948. During this period, to alleviate the currency shortage, excess Indian banknotes were printed for use in Pakistan. Subsequently, the State Bank of Pakistan was established on July 1, 1948, assuming responsibility for currency management.
After India gained independence on August 15, 1947, RBI initially released notes bearing the portrait of King George VI before transitioning to new designs. The now-viral currency note still features the image of King George VI, representing the last days of British rule in India.
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